Marathon Oil Corporation announced that its subsidiary, Marathon Indonesia New Ventures Limited, has been awarded a 49 percent interest and operatorship in the Bone Bay Block offshore Indonesia.
The Bone Bay Block is approximately 1.23 million acres (or equivalent to 213 Gulf of Mexico lease blocks) and is located predominantly offshore southern Sulawesi Island, in the [...]
Sterling Resources Ltd. report that operations on the Cladhan exploration well on Block 210/29a in the United Kingdom Northern North Sea have commenced, with the arrival of the Transocean 704 semi-submersible rig at the site. The well is targeting an Upper Jurassic prospect and is anticipated to take 35 days to drill. Sterling is the [...]
UAE-based Maritime Industrial Services Co. Ltd. Inc. reports the award of several recent rig refurbishment projects worth over US$25mn thus bringing to ten the total number of rigs currently at MIS’ yard, five in refurbishment projects and the five new-build offshore jack-up drilling rigs currently under contract. This is the largest number of rigs MIS [...]
The answer to the title question is that the best deal in the sector of energy today is the one which is undone. However it does nor necessarily mean that the Transocean shereholders has nothing to proud of. The company has just scored fresh contract of four from Petrobras. Generally every single contract of Offshore [...]
Transocean Inc. issued an updated fleet status report covering the company’s 137-unit offshore drilling fleet.
Drilling rig status and contract information on the company’s offshore drilling fleet has been condensed into a report titled “Transocean Fleet Status Report,” which is available through the company’s Worldwide Web address at http://www.deepwater.com. The report can be accessed from the [...]
Transocean Inc. today announced that its deepwater moored semisubmersible Transocean Marianas, capable of drilling in water depths up to 7,000 feet, has been awarded a two-year contract by a subsidiary of Eni. The contract is scheduled to commence in December 2009 following completion of the rig’s existing contract commitments in the U.S. Gulf of Mexico.
Estimated [...]
Wachovia Capital Markets analyst Tim Curran says in a note to investors that Transocean will lease-purchase and manage a newbuild drillship that Brazil’s Petrobras is building to use for projects offshore the West African nations of Angola and Nigeria.
Curran says Transocean will run the drillship under a 10-year contract, with an option for a [...]
Goldman Sachs upgraded the oilfield services sector to “Attractive” from “Neutral,” predicting strong profit growth due to greater drilling activity and high oil prices.
Analyst Charles Minervino expects earnings to grow in the double digits through 2011 as high oil prices lead to more rapid rig construction, and both drilling activity and the rates oil companies [...]
Major oil companies “have their backs against the wall” when it comes to getting offshore drilling contracts, according to Dahlman Rose & Co. managing director Omar Nokta.
Nokta says Brazil’s national oil company, Petrobras, has aggressively locked up a significant amount of rig capacity. As a result, dayrates have been pushed to record levels.
“We expect the [...]
Transocean Inc., the world’s largest offshore oil drilling contractor, named Steven L. Newman president and chief operating officer.
Newman replaces Jon A. Marshall, the former chief executive of GlobalSantaFe Corp., who had been in the post for only a few months following Transocean’s acquisition of its smaller rival late last year. Marshall announced plans to retire [...]
